Glencore has completed the acquisition of a 49% interest in the Hunter Valley Operations (HVO) coal mine in NSW, following the receipt of regulatory approvals.
The HVO Joint Venture (JV) with Yancoal, which owns a 51% stake, is now established.“We look forward to a successful partnership with Yancoal at the HVO JV and expect it will bring significant benefits for both companies and their shareholders”, said Ian Cribb, Chief Operating Officer of Glencore’s coal business in Australia.
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities.
With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 146,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.
About Glencore’s coal business in Australia
Glencore is one of Australia’s largest coal producers with 16 operational mines across New South Wales and Queensland.
We employ over 7,600 Australians and in 2017 managed the production of more than 88 million tonnes of thermal and coking coal, predominantly for export.We have a strong safety and environmental performance and play an active role in the development of low emission coal technology. For more information, please visit www.glencore.com.au